IMF, World Bank fintech dialogue reaches Botswana’s shores
Gaborone, Botswana (PANA) - International Monetary Fund (IMF) will next month host the Bali Fintech Agenda (BFA) conference in Botswana to kick-start dialogue on financial service industry and the 4th industrial revolution.
The conference, co-hosted with the central bank, aims to promote broad discussions on, and develop a better understanding of how countries could incorporate the financial technology into national policy frameworks.
Mareledi Selabe, spokesperson of the Bank of Botswana (BoB), Thursday said the Bali Fintech Agenda Conference slated for June 24 to 25 was cognizant of the fact that development of new technologies in financial services came with the need to digitize the economy and improve related infrastructures.
“The Bali Fintech Agenda, comprises 12 policy elements aimed at helping member-countries to ensure advances in financial technology that are transforming the banking sector are beneficial to member countries, and at the same time there is proper management of inherent risks associated with technological advancements,” Selabe said.
She further said the 12 elements broadly covered issues relating to fintech, ensuring financial sector resilience, addressing risks, and promoting international cooperation.
The IMF and the World Bank Group (WBG) annual meetings in Bali, Indonesia, in October 2018, adopted the Bali Fintech Agenda (BFA).
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